Janney Montgomery Scott Lowers WGL Holdings Inc. (WGL) to Neutral
WGL Holdings Inc. (NYSE:WGL) was downgraded by stock analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a report released on Tuesday.
Separately, Zacks Investment Research raised WGL Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Six analysts have rated the stock with a hold rating, WGL Holdings has a consensus rating of “Hold” and a consensus target price of $74.50.
Shares of WGL Holdings (NYSE:WGL) traded up 8.425% during midday trading on Tuesday, reaching $74.835. The company had a trading volume of 1,432,625 shares. WGL Holdings has a 1-year low of $58.62 and a 1-year high of $77.25. The firm’s 50 day moving average price is $62.28 and its 200-day moving average price is $65.34. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 22.609 and a beta of 0.48.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be issued a dividend of $0.4875 per share. The ex-dividend date of this dividend is Friday, January 6th. This represents a $1.95 annualized dividend and a yield of 2.83%. WGL Holdings’s payout ratio is currently 58.38%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in WGL Holdings during the second quarter valued at approximately $120,000. M&R Capital Management Inc. purchased a new position in WGL Holdings during the second quarter valued at approximately $120,000. State of Alaska Department of Revenue purchased a new position in WGL Holdings during the third quarter valued at approximately $123,000. Private Advisor Group LLC purchased a new position in WGL Holdings during the second quarter valued at approximately $207,000. Finally, LS Investment Advisors LLC increased its position in WGL Holdings by 75.1% in the second quarter. LS Investment Advisors LLC now owns 3,018 shares of the company’s stock valued at $214,000 after buying an additional 1,294 shares during the last quarter. Institutional investors own 66.35% of the company’s stock.
WGL Holdings Company Profile
WGL Holdings, Inc (WGL) is a holding company. The Company operates through four segments. The Regulated Utility segment consists of Washington Gas Light Company, which provides regulated gas distribution services to end use customers and natural gas transportation services to an unaffiliated natural gas distribution company and Hampshire Gas Company, which provides regulated interstate natural gas storage services.
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